Bombardier said on Thursday it would sell two of its units for $900 million and cut about 5,000 jobs, as the Canadian plane and train maker reins in costs and focuses on its core transportation and business jet units.

Bombardier sagged 34 cents, or 10.7%, to $2.85.

Canadian Tire reported a 16.5% rise in quarterly profit on Thursday, helped by higher sales at its retail segment and the inclusion of newly acquired Helly Hansen's operations to its earnings.

Canadian Tire gained $12.77, or 8.5%, to $162.62.

Telus' third-quarter profit rose 10%, as it signed up more subscribers to its wireless services. Telus shares gathered 23 cents to $45.24.

RBC raised the price target on CGI to $95.00 from $92.00. CGI spiked $1.03, or 1.3%, to $82.50.

CIBC cut the target price on NFI Group to $61.00 from $62.00. NFI shares picked up 20 cents to $39.29.

RBC cut the target price on Spin Master to $64.00 from $66.00. Spin Master shares lost 78 cents, or 1.7%, to $45.62.

The Fed is not expected to raise rates at its two-day session that ends on Thursday, a meeting that follows a renewal of volatility in stock prices, tightening credit markets, and a spreading expectation that the U.S. economy will slow next year.

In the economic docket, Canada Mortgage and Housing Corporation announced that the trend in housing starts was 206,171 units in October, compared to 207,809 units the month before.

Qualcomm shares fell more than 7.5% after the company issued weaker-than-expected revenue guidance for fiscal first quarter 2019. The company cited lower Apple legacy shipments and lower demand out of China.

The Fed is expected to keep rates unchanged, but investors will look for clues about the central bank's futures moves on monetary policy. The Fed has hiked rates three times this year and is forecast to raise them once more before year-end.

Thursday's moves come after the major stock indexes posted sharp gains following the U.S. midterm election. The S&P 500 and Dow both rose more than 2% on Wednesday, notching their biggest post-midterm elections gains since 1982.

Prices for the benchmark for the 10-year U.S. Treasury made slight gains, lowering yields to 3.22% from Wednesday's 3.23%. Treasury prices and yields move in opposite directions.